#Bitcoin has been sitting for a while at very good buying zones. Great Opportunities when it comes to long term perspective, considering Bitcoin as an asset of your portfolio to own.
2022 was a Year of Drastic Bearish Price Action for Financial Markets and Cryptocurrencies, wiping out all gains made since 2020's Covid-19 pandemic health crisis, in which Interest Rates were put to 0% from Federal Reserve 2022 was a Turmoil for Financial Markets with Feds Rate Hikes strengthening the Dollar DXY to curb down Inflation. And so was for cryptocurrencies, a Turmoil, with rug-pulls the likes LUNA , FTT and FTX
Is 2023 about to turn around the cards for Financial Markets and Crypto? A Green Start is definitely enthusiastic to say the least, with Inflation falling down and a weakening Dollar . Moreover, layovers of employees has taken place throughout 2022 and it's number statistics are not looking as good for Feds, signaling a US Recession & Global one in 2023-2024
Despite the recent mega pump to 21.000$ for #bitcoin coming after a month accumulation zone and turmoils, it's short term may look positive, but it's not. And still, for some, 21K from here is still a considerable cheap buying accumulation for Bitcoin for those who see it prosper as an asset in the future. While some may validate their hypothesis for the low being printed for BTC, some are not yet convinced with this idea when it comes to a Macro picture with on how 2023 will play out for Macro.
To me, 2022 and 2023 will be remembered as a trader's market on the upcoming future, with 2023-2024 bringing the best once in a life time prices as buying opportunities, maybe even better than the previous one of Pandemic. There are so many different ways to look at the markets, one can only wonder and strategize according to their short and long term capital and future's goals.
TRADE SAFE Note that this is not FInancial Advice Please do your own research before partaking on any trading activities based upon this idea.
Different outlooks with Well Weighted and Adjusted Risk
TRADE SAFE
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29K-30K a strong Resistance area for #Bitcoin BTC Bulls must show up with volume and break this barrier to be headed for more upside. More #Bitcoin being available as demand due to US selling confiscated #bitcoins from SILK ROAD CASE. Will these more available demand push the prices lower ?
Trade active
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Trade active
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Third touch of Resistance Trendline ? A break out of that with considerable volume would make me think twice closing position and break even
Nice pattern, we like your chart!! Keep it up champ)
Mr_J__fx
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@SwallowPremium Thank you, very much indeed, I appreciate it. I like your guys work too, I admire teamwork and you all are doing amazingly well. Great job
Moneyisjustanumber
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I am so confused,
But we go as expected down to fill the 20k gaps?
Mr_J__fx
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@pbal000 Pardon me for making the chart hard to read for you . To take notice of everything in it, you should go to previous ideas such as (looking out for shorts) to see how price behaved.
No one has a crystal ball regarding what will happen and where the price will go, but it's best for us to see all the probabilities and weigh them properly.
20K area confluences with a Daily Order Block, as well being the next Higher Low from 15K Low which indicates an uptrend. As long 20K is not violated as a Demand Zone being broken down with High selling Volume, Bitcoin's uptrend remains intact.
Moneyisjustanumber
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@BitcoinAffection, Pardon me for not being pro with technical reading :) I am just following few indicators like RSI MACD VOLUME, and I can see that there is 12 gauge hole on RSI ready to be filled (I am definitely expecting 20k to be hit as soon as possible, whatever market speculators are trying to sell us as story). Bitcoin looks expensive on 30k at this moment.
Mr_J__fx
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@pbal000, I am just following few indicators like RSI MACD VOLUME
It's great to hear that you have the desire to attain trading knowledge, but my advice to you would be ; for you to move on in to price action in more depth and market structures Perhaps learn some fundementals of Economics and Geo on how they affect the markets, just to stay in touch with what's happening . Indicators are good, but they don't often tell the story... don't get me wrong , I've been there. Adding them to confluence your analysis, will give you great entry points I agree for Bitcoin being expensive for now, but that has yet to be seen regarding US Debt Ceiling and how will DXY react to that. US deciding to increase it's debt, will flood more money on the system, resulting to more inflation and higher BTC price and we might look back at current price as being cheap.